You’re right, but again I have so intense experience that I manage to avoid the things that seem to be unavoidable. For example, Everyone likes ECN brokers and they think it’s good, because they’re not market makers and there’s no conflict of interest, again they’re right. But tell me again, who does finally execute your orders? Who is your counter-party?
Let me explain better, ECN brokers don’t directly connect to each other, they collaborate with bigger market makers, banks and so on. And how these market makers make money? commission? Yes.
And how almost all of them make more money? Slippage.
What about interbank market then?
For this you need Centrally Cleared Forex. So you either choose Trading Forex Futures at Chicago Merkantile Exchange or you use Centrall Clearing Facilities provided by BNP Paribas or LMAX Exchange (uses BNP Paribas’ services).
If you want to trade news and avoid slippage, one way is to use Market Maker (often called “standard”) brokerage accounts and you set maximum acceptable slippage and if it’s exceeded, you get requote, you order isn’t filled, Its standard DO OR DIE execution.
Even more… With some brokers you can get fixed spread in addition to the above-mentioned. During news some brokers widen even the fixed spread, but in Roboforex or HiroseUK, for exemple, it stays fixed in every situation.
And finally, you need to know which news to trade. If you trade only NFP (Non-Farm Payrolls) you have almost 100% winning percentage, because it’s best news to trade, I never lost.
You can also trade Consumer Price indexes(CPI) and Unemployments, these are very profitable too most of the time.
See. Experience is always necessary to make money. With this knowledge you can solve the things that seems so dofficult to solve for the majority.